Bank of America Discloses Passive Stake in Royce Value Trust

TL;DR

**Bank of America just revealed a passive stake in Royce Value Trust as of year-end 2023.**

AI Summary

Bank of America Corp /DE/ has filed an initial SC 13G, disclosing its ownership in ROYCE VALUE TRUST, INC. as of December 31, 2023. This filing indicates that Bank of America holds a significant, but passive, stake in Royce Value Trust. This matters to investors because it signals a major financial institution's confidence in the trust, potentially offering a stamp of approval, but also means a large block of shares is held by an institutional investor, which can influence trading dynamics.

Why It Matters

This filing reveals a major institutional investor, Bank of America, has a significant, passive stake in ROYCE VALUE TRUST, INC., which can be seen as a vote of confidence in the trust's investment strategy.

Risk Assessment

Risk Level: low — This is a routine disclosure of a passive investment by a large institution, indicating no immediate red flags or aggressive actions.

Analyst Insight

An investor should note the presence of a major institutional holder like Bank of America, which can add stability, but also understand this is a passive stake, meaning no active management influence is expected from this filing.

Key Players & Entities

• BANK OF AMERICA CORP /DE/ (company) — the entity filing the SC 13G, disclosing its ownership
• ROYCE VALUE TRUST, INC. (company) — the subject company in which Bank of America holds shares
• December 31, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

• Bank of America will maintain its passive stake in Royce Value Trust for the foreseeable future. (BANK OF AMERICA CORP /DE/) — medium confidence, target: December 31, 2024

FAQ

Filing Documents

• doc1.htm (SC 13G) — 82KB
• bac_poa.htm (EX-99) — 9KB
• 0000070858-24-000096.txt ( ) — 93KB

From the Filing

SC 13G 1 doc1.htm Schedule 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. N/A )* ROYCE VALUE TRUST, INC. (Name of Issuer) Common Stock (Title of Class of Securities) 780910105 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: &#8999 Rule 13d-1(b) &#9633 Rule 13d-1(c) &#9633 Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 780910105 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BANK OF AMERICA CORPORATION 56-0906609 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) &#9633 (b) &#8999 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 0 6 SHARED VOTING POWER 39,367 7 SOLE DISPOSITIVE POWER 0 8 SHARED DISPOSITIVE POWER 5,727,114 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,727,114 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) &#9633 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.1 % 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC FOOTNOTES Item 1. (a) Name of Issuer ROYCE VALUE TRUST, INC. (b) Address of Issuer's Principal Executive Offices 745 FIFTH AVENUE NEW YORK, NY 10151 Item 2. (a) Name of Person Filing BANK OF AMERICA CORPORATION (b) Address of Principal Business Office or, if none, Residence BANK OF AMERICA CORPORATE CENTER 100 N TRYON ST CHARLOTTE, NC 28255 (c) Citizenship Delaware (d) Title of Class of Securities Common Stock (e) CUSIP Number 780910105 Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) &#9633 Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) &#9633 Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) &#9633 Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) &#9633 Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8). (e) &#9633 An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) &#9633 An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) &#8999 A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) &#9633 A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) &#9633 A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) &#9633 A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J). (k) &#9633 A group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 5,727,114 (b) Percent of class: 5.1 % (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 39,367 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 5,727,114 Item 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following &#9633. Not Applicable Item 6. Not Applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company This statement on Schedule 13G is being filed by Bank of America Corporation on behalf of itself and its wholly owned subsidiaries Bank of America N.A., a bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); BofA Securities, Inc., a broker dealer registered under s

View Full Filing

View this SC 13G filing on SEC EDGAR